A shopkeeper sold a washing machine at a discount of 20% on the marked price of Rs28,000.
The marked price included 28% GST. Did he make a profit or loss and what was its percentage?
Answers
Answer: He made a 27.777% loss.
Step-by-step explanation:
The marked price is Rs. 28,000, which in terms o percentage, it's 100%.
The shopkeeper sold the washing machine at a 20% discount on the marked price. That means, he reduced the price by 20%. Meaning he sold the washing machine at 80% that is ( 100% - 20% ).
If we get 80% of the marked price,
(80/100) is same as 80%
(80/100) × 28000 = Rs. 22,400
This is the price at which he sold the washing machine.
The Goods and Services Tax (GST) which is 28% of the marked price is included in the marked price. Therefore, the value of the GST is 28% × 28000.
Which is
(28/100) × 28000 = Rs. 7840
If the GST is Rs. 7840 and the machine was sold at Rs. 22400, then the real price of the machine in our case is 22400 - 7840 = 14,560
If the shopkeeper had sold the machine at the marked price, its real price, without the GST would have been 28000 - 7840 = 20,160
This shows that the shopkeeper made a loss of :
20,160 - 14,560 = 5600
Percentage loss = (loss/ the real selling price) ×100
(5600/20160) × 100 = 27.777%
Answer:
Step-by-step explanation in the image.
